D105 OA 1 REVIEW QUESTIONS &
ANSWERS RATED A+
1 of 24
Term
How should deferred taxes be presented on the balance sheet?
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As either net noncurrent deferred tax
As either a noncurrent or current assets or noncurrent deferred
tax liabilities
, As income As a noncurrent amount
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2 of 24
Term
Comprehensive net income is net income plus what?
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Interest received on state and The unrealized gains/losses at the
municipal obligations date of transfer
Actuarial gains and losses on
defined benefit plans pertaining to Unrealized gains and losses
employees retirement benefits on available for sale securities
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3 of 24
Term
Savannah Corporation purchased 35,000 shares of common stock of
the Boulet Corporation for $50 per share on January 2, 2020. During
2020, Boulet Corporation had 140,000 shares of common stock
outstanding, paid cash dividends of $120,000, and reported net
income of $320,000.
, Which amout should Savannah Corporation report as revenue from
investment for 2020?
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90,000 120,000
80,000 160,000
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4 of 24
Term
A company transfers its securities from held-to-maturity to
available- for-sale.
Which impact from unrealized gains/losses will stem from this
transfer?
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Change in stockholders'
equity Change in income
Change in retained earnings Change in trading securities
Don't know?
ANSWERS RATED A+
1 of 24
Term
How should deferred taxes be presented on the balance sheet?
Give this one a try later!
As either net noncurrent deferred tax
As either a noncurrent or current assets or noncurrent deferred
tax liabilities
, As income As a noncurrent amount
Don't know?
2 of 24
Term
Comprehensive net income is net income plus what?
Give this one a try later!
Interest received on state and The unrealized gains/losses at the
municipal obligations date of transfer
Actuarial gains and losses on
defined benefit plans pertaining to Unrealized gains and losses
employees retirement benefits on available for sale securities
Don't know?
3 of 24
Term
Savannah Corporation purchased 35,000 shares of common stock of
the Boulet Corporation for $50 per share on January 2, 2020. During
2020, Boulet Corporation had 140,000 shares of common stock
outstanding, paid cash dividends of $120,000, and reported net
income of $320,000.
, Which amout should Savannah Corporation report as revenue from
investment for 2020?
Give this one a try later!
90,000 120,000
80,000 160,000
Don't know?
4 of 24
Term
A company transfers its securities from held-to-maturity to
available- for-sale.
Which impact from unrealized gains/losses will stem from this
transfer?
Give this one a try later!
Change in stockholders'
equity Change in income
Change in retained earnings Change in trading securities
Don't know?
